Chinese renminbi (RMB)
PBoC and ECB announce ‘successful’ swap line tests
Tests in April and November provided ‘symbolic amounts’ of euro and renminbi liquidity, involving a ‘limited number’ of counterparties
Lagarde declares support for RMB inclusion in SDR basket
IMF managing director endorses inclusion in currency basket after staff report deems Chinese currency 'freely usable'; executive board decision expected on November 30
Zhou expects RMB to account for one-third of global payments in 2020
PBoC governor outlines economic objectives over coming five years in sweeping article; looks to 'phase out' quota system and improve reserve management
PBoC monetary policy reform could be 'trial and error', economists warn
The Chinese central bank wrapped up a two-decade long interest rate liberalisation process last month – now the hard job begins
China confirms launch of QDII2
Scheme allowing Shanghai-based individuals to invest overseas agreed in meeting chaired by Premier Li Keqiang this week
RBA reduces share of euro in reserves
Australian central bank cuts euro holdings by 10% while nearly doubling RMB share of reserve portfolio; running yield ‘very low' at 0.2% at end-June, annual report says
Bank of England expands swap line with China
The BoE and PBoC strike a deal to increase the swap line to RMB350bn and extend it by three years; seen to support London as an offshore centre
US softens discourse on renminbi ahead of SDR review
Treasury drops 'significantly undervalued' reference in flagship report to Congress on foreign exchange rate policies ahead of IMF review next month
Renminbi now fourth most-used world payment currency
The Chinese currency overtakes the yen with a share of 2.79% in global payments by value
China launches cross-border payments platform
Heavily anticipated China International Payment System goes live, with StanChart and ICBC Singapore announcing successful transactions on new platform
China opens onshore bond market to foreign banks
Hong Kong units of HSBC and Bank of China are first overseas lenders to receive approval, following move PBoC says will increase cross-border use of the yuan
China eases restrictions on overseas borrowing
Move allows companies to raise funds in both local and foreign currency without state permission and could help offset record capital outflows, but analysts say short-term impact is likely to be limited
Access to interbank FX market could spur central bank demand for China bonds
PBoC says foreign central banks will be allowed to trade derivatives in interbank FX market; move to underpin greater interest in China's interbank bond market, says analyst
PBoC makes reserve requirement ratio more flexible
China's central bank will change method for calculating banks' reserve requirement ratios tomorrow in a move one analyst says could free up $200 billion
China to open up interbank foreign exchange market
Central banks will be granted access to China’s interbank foreign exchange market as part of ongoing reforms, Li Keqiang reveals
PBoC reveals $93.9 billion drop in reserves
People’s Bank of China reveals size of drop last month, driven by intervention in foreign exchange markets after devaluing yuan; reserves sat at $3.56 trillion at end of August
PBoC sets daily RMB fix at four-year low
Central bank move comes two days after China premier said currency was at ‘equilibrium'; one analyst expects ‘more depreciation down the road'
China's premier says renminbi at ‘equilibrium’
Li Keqiang plays down the risk of further renminbi depreciation, suggesting it will be ‘kept basically stable' at the prevailing rate in a move that may offer relief to hard-hit emerging market currencies
Renminbi ‘fix' lowered as stock market nosedives
Central bank lowers renminbi midpoint value by most since devaluation two weeks ago; some analysts point to decision to halt FX interventions on Monday
IMF extends current SDR basket by nine months
Fund stresses the extension does not ‘prejudge’ its decision on including the renminbi in the basket; final decision still expected this year
Zeti defends China's ‘managed convertibility' of RMB
Bank Negara Malaysia's governor says the international monetary system relies on ‘too few' reserve currencies; calls China's stock market fluctuations and cooling economy ‘short-term challenges'
Markets regain confidence after PBoC officials intervene
Yi Gang and Zhang Xiaohui step in to reassure markets, helping to reverse some of the renminbi’s fall; Asian currencies also slide and Bank Indonesia takes action
IMF offers PBoC cautious approval as renminbi slide continues
Fund urges China to aim for free float in next few years; PBoC insists there is 'no basis' for prolonged slide in currency as yuan falls for a second day
PBoC opens renminbi up to market forces
Latest move towards liberalisation appears to be aimed at meeting criteria for inclusion in SDR basket, but also provides stimulus to flagging economy